High-growth technology stocks are back in demand thanks to easing inflation worries and receding fears over further Fed rate hikes. The Nasdaq Composite will continue to lead the market higher as the end of the Fed’s rate-hiking era approaches. The U.S. stock market looks set to extend its rally through the end of the year, after Wall Street cheered fresh expectations of the Fed cutting rates next year also rose following the soft CPI report. As of Wednesday morning, U.S.
rate futures priced in an 80% chance of a rate cut in May, compared with 45% on Monday, according to the has been the top performer of the three major U.S. indexes by a wide margin so far in 2023, surging 34.7% year-to-date. That compares to an increase of 17.1% for the benchmark. Taking that into consideration, I recommend buying shares of DraftKings, CrowdStrike, and Datadog amid increasing odds that the Fed is done hiking interest rates and will pivot to easing monetary policy in 202
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